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SBI bracing for a squeeze on margins from further RBI rate cuts: Chairman CS Setty
Business Today
·
3m ago
Medial
SBI, under Chairman CS Setty, faces margin pressure from RBI rate cuts, as rate adjustments impact lending immediately but influence deposits over 12-18 months. In Q4FY25, SBI's standalone net profit fell 10% to ₹18,642.59 crore, yet the annual net profit rose 16.08% to ₹70,901 crore. The gross NPA ratio improved to 1.82%, while net NPA reduced to 0.47%. FY26 credit growth is expected at 12-13%, slightly less than previous forecasts.
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SBI awarded Best Bank in India for 2024 by Global Finance Magazine
Livemint
·
9m ago
Medial
State Bank of India (SBI) has been awarded as the Best Bank in India for 2024 by Global Finance Magazine. The award was presented to SBI Chairman CS Setty during the Annual Best Bank Awards event held in Washington. SBI was recognized for its commitment to delivering exceptional services and promoting financial inclusion across the country.
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SBI Chairman pitches for dedicated institutions to track end-use of funds raised by small businesses
YourStory
·
7m ago
Medial
State Bank of India Chairman, CS Setty, advocates for a dedicated market infrastructure institution to monitor the end-use of funds by small businesses, ensuring they serve their intended purposes. This proposal aims to comfort lenders and investors, addressing concerns over fund misuse and making pricing more competitive. Setty emphasizes the need for a reliable mechanism, especially as capital requirements grow, stressing the role of capital markets in supporting economic growth and proper risk assessment for MSMEs.
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SBI bets on digital tools and tie-ups for sustaining market leadership
Economic Times
·
1m ago
Medial
State Bank of India (SBI) is leveraging digital tools and strategic partnerships to maintain market leadership. Chairman C S Setty highlighted initiatives like expanding their digital app YONO to Singapore and revamping YONO business. SBI celebrated its 70th anniversary with initiatives such as the SBI Scholar Quiz, distributing prize money to students. The bank is also enhancing customer experience through paperless onboarding, digital access for small businesses, digital document execution for loans, and UPI-based cash withdrawal machines.
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‘Extreme customer convenience-focused approach’ redefining banking business, says SBI’s new chairman
Economic Times
·
11m ago
Medial
Fintech startups are forcing traditional financial institutions to adapt as they reshape the banking industry. The State Bank of India (SBI) is looking to align its business with the changing fintech landscape and is actively seeking partnerships with fintech companies. SBI is developing a new version of its mobile app, Yono, with a pilot launch planned for November 2024. SBI chairman, C S Setty, also acknowledged the ongoing competition for deposits among banks and the need for innovative products to attract customers.
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SBI plans to enhance threshold limit under instant loan scheme for MSME sector
YourStory
·
10m ago
Medial
The State Bank of India (SBI) plans to increase the threshold for its instant loan scheme for the MSME sector. The scheme, called 'MSME Sahaj - End to End Digital Invoice Financing', aims to provide quick and easy credit to small businesses. Through this scheme, borrowers can apply for a loan, complete documentation, and receive the sanctioned amount within 15 minutes, with minimal manual intervention. SBI Chairman C S Setty stated that the bank aims to simplify MSME credit and enable more businesses to enter the formal borrowing system by reducing collateral requirements. Additionally, SBI plans to open 600 branches across the country this fiscal year.
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Finmin appoints SBI Chairman C S Setty, Uday Kotak as governing council members of infrastructure fund
YourStory
·
7m ago
Medial
The Finance Ministry has appointed SBI Chairman C S Setty and Kotak Mahindra Bank director Uday Kotak to the governing council of the National Investment and Infrastructure Fund Trustee Ltd, replacing Dinesh Khara and T V Mohandas Pai. Approved by Finance Minister Nirmala Sitharaman, the council guides investment strategy for the NIIF, a quasi-sovereign wealth fund established to boost infrastructure financing. Other council members include Ajay Seth, M Nagaraju, and Hemendra Kothari.
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US tariffs to hit India's GDP growth, prompt more rate cuts
VCCircle
·
4m ago
Medial
India's GDP growth is projected to slow by 20-40 basis points due to new U.S. tariffs, prompting likely further interest rate cuts by the Reserve Bank of India (RBI). Analysts, including Goldman Sachs and Citi, revised their growth forecasts, anticipating rate reductions to support the economy. With inflation expected close to the RBI's target, the tariffs have led to reevaluating monetary policy, focusing on growth support while managing inflation risks.
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RBI keeps repo rate unchanged at 5.5%
Economic Times
·
4d ago
Medial
The Reserve Bank of India (RBI) maintained its policy rate at 5.5%, aligning with market expectations, amid geopolitical uncertainties and external economic pressures. The central bank lowered its FY26 inflation forecast to 3.1% while keeping the growth projection at 6.5%. RBI Governor Sanjay Malhotra emphasized India's relative insulation from global inflation due to its diversified economic structure. The decision reflects ongoing concerns over trade uncertainties and the impact of past rate cuts.
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LIC Housing Finance aims to protect NIM first, says MD Adhikari
Economic Times
·
8d ago
Medial
LIC Housing Finance plans to reduce its individual home loan share from 85% to 70% in two years, looking to boost margins and growth. The company will focus on high-yielding loan segments like loans against property. Despite challenges in the affordable housing segment, LIC Housing forecasts continued loan portfolio growth. Managing Director Tribhuwan Adhikari aims to protect net interest margins amid soft rates, as demand remains tempered despite rate cuts.
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SBI happy to welcome merchants looking to shift from Paytm bank: Dinesh Khara
Economic Times
·
1y ago
Medial
State Bank of India (SBI) is offering support to merchants following regulatory action against Paytm Payments Bank. SBI Chairman Dinesh Khara stated that the bank is reaching out to merchants and is open to a one-time migration of accounts from Paytm. SBI Payments, a company that supports various payment systems, aims to ensure there are no disruptions in the payments ecosystem. The Reserve Bank of India (RBI) recently directed Paytm Payments Bank to halt basic payment services due to violations of rules, including KYC requirements. Paytm is reportedly in talks with HDFC Bank, Axis Bank, and Yes Bank to transfer its payments and settlements load.
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